Sales of electric and hybrid vehicles jumped more than 40 percent in China last year, as demand for new energy models continues to surge and the sector remains entrenched in a gruelling price war.

But today, China is also the biggest global exporter of electric vehicles (EVs). Following an astonishing 13,300 per cent increase in production between 2017 and 2023, the country has skyrocketed to dominance in the sector.

Byd, Volkswagen and Xpeng new energy vehicles on display in Yichang, Hubei province, China, Jan. 8, 2025. China's domestic retail sales of new energy passenger vehicles has reach 11 million in 2024.